A multitude of stakeholders--from healthcare providers and device manufacturers to government agencies and regulators--have started to address the problem, but progress seems grindingly slow.
But instead of speeding up its much promised and grindingly slow process of privatization initiated in the 1990s, authorities swept the debacle under the rug.
What today's bond market is signalling might not be recession, but rather grindingly low growth for the foreseeable future -- and a predictably accommodative response from central banks.
